mARCH 2012 www.lawyer-monthly.com Global Arbitration 17

ICC rules up to date, as opposed to being completely changed. Expected amendments apply to the provisions relating to multi-party and multi-contract arbitration, a new emergency arbitrator procedure for parties who need interim relief urgently, as well as amendments which look to increased speed and reducing ICC arbitration costs.

Hong Kong Arbitration Ordinance In addition, and also in June 2011, the new Arbitration Ordinance of Hong Kong came into effect. This aims to smooth the progress of ‘fair and speedy’ dispute resolution. Some of the key aspects of the ordinance include the abolition of the distinction between domestic and international arbitration, as well as a codified confidentiality obligation. The ordinance is similar in structure to the framework of the UNCITRAL Model Law.

Arbitration on wall Street Of course, Arbitration takes place all over the world, and no-one can ever truly predict the outcome. Recent news from wall Street reports that the Financial Industry Regulatory Authority arbitration panel in the US recently turned down a request by a claimant for nearly $3 million in relation to investments linked to private placements and Ponzi schemes that were allegedly mishandled, and instead, ordered the claimant to pay $136,000 in costs and fees. This month, Lawyer Monthly takes

an in-depth look into the world of Arbitration and the legal implications surrounding it, including recent legislative changes and the challenges that arise across the globe. To this end, we speak to several legal professionals with considerable experience in Arbitration,

from countries

including the UK, Sweden, Singapore, Taiwan, Indonesia, Canada and Portugal.